Centene Corp (CNC)

Fixed asset turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	153,999,000	150,100,000	147,923,000	146,251,000	144,547,000	141,554,000	138,095,000	133,184,000	125,982,000	121,702,000	118,386,000	115,073,000	111,115,000	101,690,000	91,576,000	82,220,000	74,639,000	72,335,000	69,541,000	65,366,000
Property, plant and equipment	US$ in thousands	2,019,000	2,004,000	2,416,000	2,478,000	2,432,000	2,479,000	2,557,000	3,583,000	3,391,000	3,302,000	2,912,000	2,822,000	2,774,000	2,669,000	2,544,000	2,439,000	2,121,000	1,993,000	1,878,000	1,800,000
Fixed asset turnover		76.27	74.90	61.23	59.02	59.44	57.10	54.01	37.17	37.15	36.86	40.65	40.78	40.06	38.10	36.00	33.71	35.19	36.29	37.03	36.31

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $153,999,000K ÷ $2,019,000K
= 76.27

Centene Corp.'s fixed asset turnover has shown a generally increasing trend over the past eight quarters, indicating efficient utilization of fixed assets to generate revenue. The company's fixed asset turnover ratio has improved from 37.17 in Q1 2022 to 76.27 in Q4 2023, reaching the highest level in the period analyzed. This suggests that Centene Corp. has been effectively managing its fixed assets to generate sales and revenue, which is a positive sign for potential investors and creditors. It is important for the company to continue monitoring and maintaining this trend to ensure sustainable growth and profitability in the long term.